Guideline Value

Corporate

Guideline Value for Ram Nagar 1st Main Road Layout

₹3850/sq.ft.

The guideline value for Ram Nagar 1st Main Road Layout in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ram Nagar 1st Main Road Layout

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Ram Nagar 1st Main Road Layout guideline value

The current guideline value of Ram Nagar 1st Main Road Layout is Rs 3,850 per sq.ft, effective from 1 July 2024. This layout is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Ram Nagar 1st Main Road Layout has changed

In the 2017 revision, the guideline value was set at Rs 2,345 per sq.ft. The recent 2024 revision has increased this value to Rs 3,850 per sq.ft, marking a significant change of +64% from the previous figure.

The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street, indicating that the values for those years are not available.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for this area is Rs 2,750 per sq.ft, placing the guideline value of Ram Nagar 1st Main Road Layout above this median.

Stamp duty and registration fee for property in Ram Nagar 1st Main Road Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ram Nagar 1st Main Road Layout?

The Ram Nagar 1st Main Road Layout falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is considered alongside the sale price to assess the applicable duties. This ensures that the fees are calculated based on the higher value, thereby safeguarding the revenue for the state.

Frequently asked questions

What is the current guideline value of Ram Nagar 1st Main Road Layout?

The current guideline value of Ram Nagar 1st Main Road Layout is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since the last revision?

Since the last revision in 2017, the guideline value has increased by +64%, from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024.

Are there any revisions without figures for Ram Nagar 1st Main Road Layout?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Ram Nagar 1st Main Road Layout.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is lower than the current value of Ram Nagar 1st Main Road Layout.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.